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April 28, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Acworth, Business Loans > Northwest Bank & Trust Acworth Business Loans > Tool Shack Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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Northwest Bank & Trust Provides SBA Loan to Buy Mac Tools FranchiseBorrowing money to invest in a Mac Tools franchise? Northwest Bank & Trust has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Mac Tools franchise may simply require a phone call to a local SBA banker. In 2005, Northwest Bank & Trust issued an SBA franchise loan to an entrepreneur in Kennesaw, Georgia. Because Mac Tools was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis. SBA Loan Borrower TOOL SHACK SBA Loan Lender NORTHWEST BANK & TRUST This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 5/12/2005 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Mac Tools franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $125,000 loan. Remember, anyone can do it... so why not you? About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Where to Get an SBA Loan in Acworth, Georgia Getting an SBA Loan in Georgia
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